A stable net external position requires that the trade balance responds negatively to changes in the net external position. If financial integration makes financing external imbalances less costly, we expect slower external adjustment in more integrated economies. The study estimates...

This study investigates the growing importance of sustainability in financial markets by estimating the extent of capitalisation of companies' commitment to sustainability on their market value. The spreading concern for social and environmental issues, and especially for the material risks of...

Key to the achievement of sustainable development is the mobilization of financial capital. The incorporation of sustainability-related principles and objectives in financial decisionmaking falls under the rubric of sustainable finance. Sustainable finance has become a self-sustaining body of...